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Non-Tech : Invest / LTD
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To: bw who wrote (1786)8/13/1998 9:38:00 PM
From: Thean  Read Replies (1) of 14427
 
bw, BRR is a good one if you are already in the money. It closed at a multi-year low, equivalent to NKE closing at 37. Therefore, the floor is now very deep and it can sink far. I would be a little more patient on this. It may bounce tomorrow but if it closes higher tomorrow it means you probably don't have confirmation. One needs a good confirmation here because tomorrow is Friday and if it closes lower tomorrow then its weekly chart will lend a strong support to the bear case. Is this a gold stock? Don't tell me, tell LT.

IAD is a slow grinder. It absolutely needs to close below 26-26 1/4 before it can get on the elevator down to close the gap. The gap should be closed when it reaches 23 1/2.

The drug sector did not pan out as I expected today. If they can withstand this market weakness, I will leave them alone and go elsewhere. PFE broke support and it got no follow through. Very disappointed as I am a MRK put holder.

I think the formula for the market tomorrow and the near future is pretty simple - If the Yen goes down, the US stock market goes down, bond goes up, and vice versa. The Russian problem is really old news and the lazy CNBC couldn't find anything more exciting to report. Shame on them.

Don't know if anyone notice - DO closed down hard today, just like FGII did a few days ago. To me the street's message is very clear - anyone has a double digit PE today will have to go to single digit or very low teens to justify the future earnings. No joke. This is a bear market and I'm glad I know what a bear market can look like. Called Waterhouse and they assured me they can trade MDCO for me after tomorrow by calling them.
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